Managerial Accounting Course: BUS 248 | Study notes Management Accounting

Date Adopted:

Date Reviewed: January 2008

Date Revised: January 2008

BUS 248 – Managerial Accounting

I. BUS 248 – Managerial Accounting – 3 Semester Hours

II. Course Description

This course is designed to familiarize the student with management concepts and techniques of

industrial accounting procedures. Emphasis is placed on cost behavior, contribution approach to

decision-making, budgeting, overhead analysis, cost-volume-profit analysis, and cost accounting

systems.

III. Prerequisite

Bus 242

IV. Textbook

Textbook: Introduction to Management Accounting (Current Edition)

Publisher: Prentice Hale

Authors: Werner

V. Course Objectives

1. The student will identify and describe the managerial accounting function and will relate

it to the financial accounting function.

2. The student will develop an understanding of accounting systems and procedures of

manufacturing operations.

3. The student will understand the budget process as it relates to business organizations. He

will also examine standard cost procedures used by manufacturing operations.

4. The student will be able to compute and chart cost-volume profit relationships.

5. The student will understand the procedures used to control segments of business

organizations.

6. The student will identify and relate various analysis of financial statements to various

objectives of analysis.

VI. Course Outline of Topics

1. The student will be given a set of facts that,

a) explain the relationship of managerial and financial accounting.

b) list and describe the characteristics of managerial accounting reports.

c) describe the managerial accounting process.

d) describe the organization of the managerial accounting function.

e) describe the profession of managerial accounting.

f) identify the principal organizations related to management accounting and

explain their role in the profession.

2. The student will be given a set of circumstances and accounting data that,

a) explains whether the job order or process cost system should be used.

b) explain perpetual inventory methods used by manufacturing concerns.

c) explain the three cost elements used to record manufacturing costs and the

procedures for their accumulation.

d) apply job order costs procedures to determine inventory values and cost of

goods sold.

e) apply process cost procedures to determine inventory values and cost of goods

sold.

f) apply allocation procedures for by-products and joint products.

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Date Adopted: Date Reviewed: January 2008 Date Revised: January 2008 BUS 248 – Managerial Accounting I. BUS 248 – Managerial Accounting – 3 Semester Hours II. Course Description This course is designed to familiarize the student with management concepts and techniques of industrial accounting procedures. Emphasis is placed on cost behavior, contribution approach to decision-making, budgeting, overhead analysis, cost-volume-profit analysis, and cost accounting systems. III. Prerequisite Bus 242 IV. Textbook Textbook: Introduction to Management Accounting (Current Edition) Publisher: Prentice Hale Authors: Werner V. Course Objectives

The student will identify and describe the managerial accounting function and will relate it to the financial accounting function.
The student will develop an understanding of accounting systems and procedures of manufacturing operations.
The student will understand the budget process as it relates to business organizations. He will also examine standard cost procedures used by manufacturing operations.
The student will be able to compute and chart cost-volume profit relationships.
The student will understand the procedures used to control segments of business organizations.
The student will identify and relate various analysis of financial statements to various objectives of analysis. VI. Course Outline of Topics
The student will be given a set of facts that, a) explain the relationship of managerial and financial accounting. b) list and describe the characteristics of managerial accounting reports. c) describe the managerial accounting process. d) describe the organization of the managerial accounting function. e) describe the profession of managerial accounting. f) identify the principal organizations related to management accounting and explain their role in the profession.
The student will be given a set of circumstances and accounting data that, a) explains whether the job order or process cost system should be used. b) explain perpetual inventory methods used by manufacturing concerns. c) explain the three cost elements used to record manufacturing costs and the procedures for their accumulation. d) apply job order costs procedures to determine inventory values and cost of goods sold. e) apply process cost procedures to determine inventory values and cost of goods sold. f) apply allocation procedures for by-products and joint products.

The student will be given adequate data that, a) explains the nature of budgets, their purpose, the various time periods used and the performance reports used. b) construct each of the budgets commonly used by manufacturing concerns. c) explain the nature and use of standard costs by manufacturers in determining inventory values and cost of goods sold. d) calculate variances from standard costs and explain their relevance and final distribution.
The student will be given correct data that will, a) calculate break-even point. b) calculate sales necessary to earn a desired profit. c) construct break-even charts. d) determine product mix and break-even point for multiple products. e) determine margin of safety. f) calculate contribution margin ratio.
The student will be given adequate data that will, a) explain advantages and disadvantages of decentralization. b) define cost centers, profit centers and investment centers. c) determine: 1) gross profit by departments. 2) operating income by departments. 3) departmental margin.
The student will be given adequate data that will, a) explain: 1) horizontal analysis. 2) vertical analysis. 3) common-size statements. 4) solvency analysis. 5) profitability analysis. 6) selection of analytical measures. b) compute various analysis: 1) horizontal 2) vertical 3) common-size 4) solvency 5) profitability VII. Evaluation and Assessment Evaluation and assessment will be determined by the instructor and specified on the instructor’s class syllabus. Grades will be based upon following scale: A = 90 – 100%, B = 80 – 89%, C = 70 – 79%, D = 60 – 69%, and F = below 60%. VIII. Attendance Students are expected to attend all classes for which they are registered. Students who are unable to attend class regularly, regardless of the reason or circumstance, should withdraw from that class before poor attendance interferes with the student’s ability to achieve the objectives required in the course. Withdrawal from class can affect eligibility for federal financial aid.

Managerial Accounting Course: BUS 248, Study notes of Management Accounting

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